Chapter 2 Property, Estates, & Ownership

Question 1

Bundle of Rights UPTEE

Answer 1

use: right to use property
Possess: the right to live on property
Transfer: right to sell property
Encumber: the right to borrow money and use as security for loan
Enjoy: the right to peace and quiet enjoyment

Question 2

Chattel is defined as

Answer 2

Personal property

Question 3

Land includes

Answer 3

surface, airspace, materials and minerals beneath

Question 4

Defined Channel is

Answer 4

a natural watercourse even if its dry

Question 5

Can water be owned?

Answer 5

NO

Question 6

Correlative-rights doctrine

Answer 6

an owner may take only a reasonable share of underground waters

Question 7

riparian rights

Answer 7

owner of property bordering a stream. have reasonable use of flowing water

Question 8

littoral

Answer 8

water rights of a bordering lake/ocean own to average low water mark or high tide mark

Question 9

appropriation

Answer 9

right to use water for a beneficial use by diverting surface water

Question 10

Are minerals owned as real property?

Answer 10

yes, unless fugitive substances non solid

Question 11

migratory minerals

Answer 11

oil gas-cannot be owned until taken out of the ground but the rights to the minerals, oils can be sold seperately

Question 12

tests of fixture MARIA

Answer 12

method of attachment:
adaptation: has item been especially made for the property
relationship of parties: court favors tenant or buyer
intention: most important test
Agreement of parties

Question 13

fructus naturales

Answer 13

naturally occurring plant growth

Question 14

fructus industriales

Answer 14

are annual crops produced and are considered personal property

Question 15

emblements

Answer 15

annual crops cultivated by tenant farmers. property of tenants not the landowners

Question 16

appurtenance

Answer 16

anything used with the land for its benefit

easements and stock in a mutual water company

Question 17

estate

Answer 17

is the ownership interest or claim a person has in real property

Question 18

freehold estate

Answer 18

indefinitely measured by the length of someones life. estate of inheritance
estates in fee
life estates
estate in reversion
estate in remainder

Question 19

easement

Answer 19

an interested owned by one person in the land of another person

Question 20

fee simple estate

Answer 20

greatest ownership interest 
unqualified
indefinite duration
free tranferable and inheritable
also know as estate of inheritance or perpetual estate

Question 21

feel simple absolute

Answer 21

transferred with no conditions or limitations on its use

Question 22

fee simple subject to condition subsequent

Answer 22

seller imposes qualifications or conditions. if violated may lead to termination of estate

Question 23

condition subsequent

Answer 23

there is something the owner must not do

Question 24

life estate

Answer 24

is one that is limited in duration of a measuring life

Question 25

pur autre vie

Answer 25

meaning estate for anothers life duration

Question 26

remainderman

Answer 26

person identified in the instrument creating the interest. who the estate reverts back to

Question 27

non free hold estates

Answer 27

tenancy for years periodic tenancy tenancy at will tenancy at sufferance

Question 28

are leases real property

Answer 28

yes

Question 29

tenancy

Answer 29

leasehold interest in real estate and its duration

Question 30

tenancy for years

Answer 30

fixed length of time and specific end date

Question 31

periodic tenancy

Answer 31

an idefinite period of time. month to month but must give 30 days notice

Question 32

tenancy at will

Answer 32

tenant obtains property with owners permission but with no rental agreement. may be ended by unilateral decision of either party and must give 30 days notice by both

Question 33

tenancy at sufferance

Answer 33

occurs when the tenant originally obtained possesion but wont leave after lease is up... must evict

Question 34

title

Answer 34

evidence that someone owns that land and is in lawful possession

Question 35

separate ownership

Answer 35

owned by one person, or entity | ownership in severalty

Question 36

concurrent ownership

Answer 36

``` owned by two or more entities tenancy in common joint tenancy community property tenancy in partnership ```

Question 37

tenancy in common

Answer 37

two or more people undivided interests equal right of possesion

Question 38

undivided interest

Answer 38

means that each owner has a certain equitable interest in property

Question 39

4 characteristics of tenants in common

Answer 39

tenants in common may take title at different times tenants in common may take title on seperate deeds may have unequal interest equal right of possession

Question 40

partition action

Answer 40

when tenants dont agree. and ask court to decide

Question 41

joint tenancy

Answer 41

two or more owners with the right of survivorship

Question 42

right of survivorhsip

Answer 42

1 tenant dies the others automatically becomes sole owner

Question 43

unities of joint tenancy t-tip

Answer 43

time become joint tenants at same time title take title on same deed interest have equal undivided interest possession have equal right of possesion

Question 44

community property

Answer 44

all property acquire by man and wife during valid marriage

Question 45

property excluded from community property

Answer 45

property owned before marriage property acquired by gift or inheritance income derived from separate property also, community property with right of survivorship

Question 46

tenancy in partnership

Answer 46

two or more person who form a partnership for business purposes

Question 47

what is acknowledgment in recording process

Answer 47

formal declaration before a notary public

Question 48

what does executed mean

Answer 48

signed

Question 49

abstract of judgement

Answer 49

summary of court decision

Question 50

constructive notice

Answer 50

recording of a document and possession of property